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DRAFT <br />For financing activities, include: <br />• Range of interest rates <br />The interest rate will be zero. <br />For housing related activities, include: <br />• Duration or term of assistance; <br />The term of the City's loans will be thirty year deferred. <br />• Tenure ofbeneficiaries-rental or homeownership; <br />• Tenure will be homeownership. <br />• A description of how the design of the activity will ensure continued affordability. <br />The City will use a recapture mechanism to encourage long term tenure <br />and affordability. Borrowers who sell their homes at fair market value to <br />non-income qualified households will be required to repay the City's loan <br />in its entirety. <br />15 <br />80B-25 <br />